Name the body which formulates the economic plans in India.
Answers
Answer:
Planning commission is the body which undertakes the tasks of preparing five year plans which the existing ruling government is supposed to achieve in their 5 year term. The planning commission in its present form has been replaced with Niti Ayog
Explanation:
After achieving independence, the system of making five years plans was started under the leadership of the late Prime Minister Mr Jawahar Lal Nehru. The first 8 five year plans focused mainly on agriculture development and poverty eradication.
India has total seen 12, 5 years plans being made and implemented but they are discontinued since 2017 under the leadership of current PM Mr Narendra Modi. The planning commission has been replaced with Niti Ayog.
Answer:
Niti Aayog and financial ministry of government of India.
Explanation:
Niti Aayog along with the help from finance ministry official formulate the five year plan under the ruling government's agendas. They are made to sustain the economic development and the growth rate. They work closely under the govt policies to make country a financial balanced economy along with giving employments to its citizens also. Previously Planning commission of India made these plans which was eradicated by Narendra Modi.